About your Search

20121027
20121104
Search Results 0 to 6 of about 7
hurricane katrina. are you confident that fema is prepared given the sheer size of this storm, almost a thousand miles in dimer. >> it is a huge storm and the impact will on the storm is so big, it is impacting several states from dc all the way up to maine at the s same time. but i am rae very comfortable. we have a great administrator running the organization. he gets it, he's from florida, a good emergency manager. doesn't run around with his hair on fire. so i'm confident they will do a good job. >> on a conference call today n fact, youro successor, mr. fugate said the disaster fund at fema has a billion dollars in t more or less. is that enough for this kind of response that will be necessary? >> probably at the end of the day the expenses will be momr than that. but es, it's enough for t now. what the president has done, the president has done a prelandfall declaration of all of the states up the east coast. so that allows the administrator to move supplies in now, move people in now, rescue teams in, and to get ready, work with those emergency managers to make sure the states
a will surpass those fom hurricanes irene and katrina. although there are countlessse businesses hurt, others could see a boost.se erika miller reports. >> reporter: when you consider the massive amounts of flooding, downed treesand damage to transportation networks, it could takandays-- if not weeks,i to tally up the financial costs from the storm. but already there are predictions sandy will be thets most expensive clean-up in u.s. history. the mt serious damage appears to be caused by flooding along the east coast. according to economic tracking firm i.h.s. global insight, property damage will lielyly surpass $20 billion. add to that as much as $30 billion in lost business, and the total financial toll could end up being close to $50 billion. hotels, stores, airlines, and restaurants have lost business they won't get back. insurance companies will have tu make big payouts, which will likely mean hiher insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predic
in the wake of a major disaster. so it's probably no surprise that back in 05, hurricanes katrina and rita drained the fund and plunged the program $18 billion into debt. it's debt congress planned ton forve, bufohasn't yet. that leaves the program on poor financial footing with only about $4 billion worth of fundsh available for claims related to sandy. >> from what i've seen, this could be a $5 billion to $10 billion flooding event, so more than likely, the program will have to go to congress to get additional borrowing authority. >> reporter: former program administrator david maurstad says the program will probably have to turn to congress for help paying claims. >> it's still an obligation that our government said we're going to have this program-- "you buy a policy, we're going to take care of it."dm and i have every confidence t believe that that will happen. there will be some mechanics that will be involved, possibly, depending on how large of an event this turns out to be. >> reporter: what could be a bigger problem are the number of people affected who don't have flood insurance
of problems. we leared with katrina. we leedned with irene. we started with much larger cash supplies than we normally would have, and we've been able to manage that cash suly at a much higher level than we have right now than w ve everr had before. >> tom: have you been able to replenish the cash supplies in those a.t.m. machines in a timely manner? >> we have been able to replenish. obviously, there will be an a.t.m. here or there that has a problem, that runs out of cash. there are lines at many of these a.t.m.s in the difficult areas, but even as the longest time, it's within the same day it's replenished. we d have story where's we move cash from one branch to the other to help the branches keep cash. we've beefed up the security force toking in throughout the tristate area. >> tom: frank, let me pull back a littleri bit from the day-to-day operations and i know you're focused on that. you have waived some bank fees for those affected customers in the region. is that going be much of an impact when you talk about the fourth quarter business? >> i don't see this impact our fourth quarter
some examples for you. disasters which happened to fall into the middle a of politicf moments. katrina. the 2008 economic collapse. the aurora shootings earlier this year. the hurricane andrew in 1992. that fell in august. how easy is it for a candidate or a politician of any stripe to mishandle that kind of situation? >> i think we've seen in the past how easy it is mishandle and as a result we'e seeing a much better handling of it right now for w president obama and fr mitt romney and in general from some of the other politicians we've seen on tv and oth o places. i think this is one of the few situations, unfortunately, where basic human decency and good olitics dos tail. the best thing you can do as a political candidate right now is to appear to care more about what's going on on the ground with people who are suffering than you do about your own t election. ideally that's motivated by a real feeling there rather than simply showing it but certainly politicians have learnd lessons from past generations w have seemed insensitive. >> ifill: it's fair to say a lot of thought goes i
badly damaged system? >> well, ihink you're absolutely right, ray. look, people warned katrina that new orleans needed to be able to withstand a category 5. they didn't design the levees to withstand it and we see what happened. now we see the same thing with sandy. i think the hope has to be at sandy isn't short for cassandra and that it's another warning that we ignore. absolutely people nat have seen that you c in fact have the worst-case scenario, which was flooding of the lower manhattan and i think any city along the eastern sea board has ask-to-ask themselves what would happen if us?icane sandy hit >> suarez: well, how do we price risk, then, into the decisions we make both publicly and privately. should there with b places in new jersey, in new york, where insurance companies say "we for you toto pay rebuild right there"? where the cost of doing so becomes higher and maybe prohibitive for some people? >> there probably should be, yes, because the alternative is we kp enticing people to place more and more of theip value, weal in more of their fragile co-systems or fragile areas
and michael brown at the time of katrina. barack obama rebuilt it. and we are seeing it it work and respond. >> woodruff: do you think the storm could be making that much of a difference. >> i think the perception and you see activity and you see the chris's christie thing. peop are saying why is christie doing this, for his awn mattal ambitions. >> i don't think there is anyt ng like that when young ernor of a state,e a state you love that i in your heart and soul you feel an intense sense of stewardship. and when it gets wallopped by the storm the poll particulars seems irrelevant at this iint. and as christie saihi i don't care about the politics. if he is going to help me with my state, he is going to help the people of my state, then i'm grateful and i will work with him. so i think it is as simple as that. and i think he has been perfectly willing to hold the view that he'sot a good steward of the economy, not good on budget negotiations but he's good on this. and we worked together on this. i don't think that is politically inconsistent. but nonetheless, asot a-- about where the ele
Search Results 0 to 6 of about 7

Terms of Use (10 Mar 2001)